Flower v. Bricker

'The New England Securities Company was for many years engaged in making farm loans on farm property in Arkansas and other States, and its custom was to take a first mortgage for the loan and a second mortgage for its commissions or agent’s fees. The first mortgage would he sold to investors and the second retained by it. In assigning the first mortgages the company would execute an agreement with the assignee whereby “it agrees to look after the collection of the interest as it falls due, and the principal at maturity, and to remit same; to keep insurance in force for and on behalf of the…